According to the official website of the National Bureau of statistics, at the “news conference on the operation of the national economy in the first quarter” held by the state information office on the 18th, Fu Linghui, spokesman of the National Bureau of statistics and director of the Department of comprehensive statistics of the national economy, said that since this year, the international situation has been turbulent, the global epidemic has spread, geopolitical conflicts have intensified, external instability and uncertainty have increased, China’s epidemic has spread frequently, and some unexpected factors have exceeded expectations, The downward pressure on the economy has increased. Despite these adverse factors, under the strong leadership of the Party Central Committee, all regions and departments have adhered to the principle of stability and seek progress in stability, scientifically coordinated epidemic prevention and control and social development, strengthened steady growth, and the overall economic operation is within a reasonable range.
From the perspective of the trend in the next stage, although there are certain pressures in the short-term economic operation, there are still many favorable conditions for China’s economy to maintain steady growth throughout the year.
It is mainly reflected in the following six aspects:
first, the recovery trend of consumption is expected to continue . Although the consumption situation has been “suppressed” in the near future, it will not be affected by the recovery of consumption. In the first quarter, the contribution rate of final consumption expenditure growth to economic growth was 69.4%, which is still the largest contribution among the three major demands. As the impact of the epidemic is gradually controlled and the employment priority policy continues to work, it will promote the improvement of residents’ consumption ability and willingness. At the same time, actively promoting the expansion of bulk consumption such as new energy vehicles and green smart appliances, promoting the deep integration of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) consumption, developing new consumption formats and models, and accelerating the quality and capacity improvement and expansion of the rural consumer market will also be conducive to the sustained growth of consumption.
second, the role of investment is expected to improve . Since the beginning of this year, all localities have actively promoted the construction of major projects, driving the rapid growth of investment. In the first quarter, manufacturing investment increased by 15.6% year-on-year and infrastructure investment increased by 8.5%. With China’s increasing support for the development of the real economy, the transformation and upgrading of traditional industries and the innovation and development momentum of emerging industries will increase, which will help drive the growth of industrial investment. At the same time, focusing on the major national strategic deployment and the 14th five year plan, moderately ahead of schedule infrastructure investment is also conducive to the expansion of investment.
third, accelerate the pace of industrial upgrading and development . In recent years, China has thoroughly implemented the innovation driven development strategy, strengthened strategic scientific and technological forces, improved scientific and technological innovation capabilities, strengthened enterprise innovation incentives, increased the proportion of R & D expenses added and deducted, and promoted industrial upgrading and development. In the first quarter, the added value of high-tech manufacturing industry increased by 14.2% year-on-year, the equipment manufacturing industry increased by 8.1%, and the industrial technology intensity increased steadily.
fourth, green intelligent transformation drives enhancement . With the steady progress of China’s green development, the accelerated pace of green and low-carbon transformation of energy, the expanded demand for new energy products and the increased requirements for energy conservation and carbon reduction transformation of traditional industries, which will drive the growth of relevant industries. In the first quarter, the output of Shanxi Guoxin Energy Corporation Limited(600617) automobile and Cecep Solar Energy Co.Ltd(000591) battery increased by 140.8% and 24.3% respectively year-on-year. The rapid development of 5g network, information technology and artificial intelligence technology also gave birth to new industrial growth points. In the first quarter, the manufacturing industry of smart consumer equipment increased by more than 10% year-on-year.
fifth, the dividend of opening to the outside world continues to appear . Despite the complex and severe international environment, on the whole, the world economy is still recovering and the demand for China’s exports will still increase. One belt, one road, China’s export enterprises, which are more capable of adapting to changes in external demand under the epidemic situation, and continue to exert their efforts in stabilizing foreign trade policies, are constantly emerging. In the first quarter, China’s import and export increased by 10.7% year-on-year, which was realized on the basis of the high base of last year, and fully reflected the resilience of foreign trade development.
sixth, macroeconomic policies have been effective . Since the beginning of this year, in the face of complex situations, all regions and departments have thoroughly implemented the spirit of the central economic work conference and the deployment of the government work report, adhered to the principle of stability and seeking progress in stability, actively introduced policies conducive to economic stability, and increased support for the real economy. We will increase efforts to ensure supply and price stability in the market, especially in view of the increasing downward pressure on the economy in the near future. We will further strengthen the implementation of macro policies, arrange ahead and speed up the pace, actively help market players, ensure food and energy security, maintain the stability of the supply chain of the industrial chain and secure the bottom line of people’s livelihood. As the policy effect gradually appears, it will promote the smooth operation of the economy.
“Generally speaking, China has a complete industrial system, large-scale market space, many dividends from reform and opening up, and strong economic governance ability, which can effectively deal with various risks and challenges.” Fu Linghui said, “from the perspective of the whole year, China’s economy is expected to maintain a recovery and development trend. Of course, we should attach great importance to the current problems, continue to coordinate the epidemic prevention and control and economic and social development in accordance with the decisions and arrangements of the CPC Central Committee and the State Council, strengthen the implementation of macro policies, make every effort to stabilize the macro-economic market and strive to achieve the expected goals and tasks of the whole year.”
